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Coforge outlined an ambitious target to double its revenue

ICICIdirect Research 17 Jun 2026 DISCLAIMER

News: At its investor day, Coforge outlined an ambitious target to double its revenue to US$5 billion by FY30 from around US$2.47 billion currently, with organic growth aspirations of 15.7% CAGR over the same period to US$ 4.3 billlion. The growth will be driven by scaling key accounts, expanding AI-led offerings, pursuing acquisitions and increasing large-deal wins. Management highlighted strong momentum in core verticals such as BFSI, insurance, travel and public sector, while also targeting significant growth in healthcare and government business. The company expects continued support from GCC partnerships and large transformational deals, leveraging its domain-focused strategy and recent Encora acquisition to sustain above-industry growth

View: The company, like it other peers, also outlined that while AI productivity headwinds will impact the overall sector by 25-30% over the next 3-5 years, the AI tailwinds in existing services (20-30%) and AI driven new services (30-40%) will thereby cumulatively boost the industry by 50-70% , over the same period.  We highlight that Coforge has witnessed industry leading growth, partially led by acquisition in the last couple of years. It remains one of the 3 major companies which is guiding for double digit growth trajectory in the space. With a differentiated Data-Cloud-AI-Engineering core, we believe it is on course for healthy growth if execution momentum sustains.

Impact: Positive

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